A property that’s long been considered one of the best development sites in Dallas has changed hands.

The former Showcase Chevrolet site at LBJ Freeway and Noel Road sits next door to Galleria Dallas.

The 14-acre tract for years was the home of Doran Chevrolet. It had been for sale for more than three years.

Last week, an investment company — Dallas Midtown Properties LLC — bought the key tract for an undisclosed price.

The property had been marketed for sale for more than $14 million.

The new owner of the former auto dealership site is a company set up by Donahue Development, one of the real estate firms that are working to redevelop the entire area between the Galleria and Preston Road on the north side of LBJ Freeway.

Donahue Development CEO Kent Donahue confirmed the sale Tuesday, but said it’s too early to talk about plans for the property,

Donahue Development is partners in the deal with Diversion Capital.

Along with the Valley View Center property, the Chevrolet site is one of the largest potential building locations along that stretch of LBJ Freeway.

Previous owners of the land attempted to develop a $1 billion mixed-use complex that was to include office towers, a hotel, condominiums and a shopping center. But the project died because of the recession and credit crunch.

Lender RMR Investments Inc. of California eventually took control of the property. RMR Investments sold the property to Dallas Midtown Properties, county deed records show.

Ray Utley and Carter Kendall brokered the sale.

The site is just west of Valley View, which Dallas-based Beck Ventures is trying to redevelop with help from the city of Dallas.